Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car in over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his automotive business, and he took control of the usb ports.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Master. Borgward turned his care about the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 in addition to in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from companies he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the expansion of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most widely used model and remained in production to the life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and automated transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took advantage of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its sizing, as it basically managed as four tiny independent companies and do not implemented such basic price reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced like a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after the creditors were paid completely, there was still 4. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly crucial of Carl Borgward's company approach, and included many on the arguments later advanced to go into detail or justify the company's demise. The widest range of cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Represents, placing the overall sales value on the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries also appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing with Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and on the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only European auto maker hit by a North American slump widely used for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment your senators withdrew their assure. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s occupation. He had studied rules at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to help chair the Borgward supervisory aboard would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses to help survive.
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